On line dating business ipo
But even then it may be a little late to hit the markets — Match’s sales growth has started to slow and its profit is slipping.Match Group’s Ebitda, or earnings before interest taxes depreciation and amortization, fell 1 percent to 4 million last year, though that was related in part to its acquisition of Princeton Review. It’s not entirely clear why Diller incorporated it into the dating business, but the company line is they both sell services directly to the consumer.The song’s sales pitch is infectious, but wholly unnecessary: Everyone in Japan is familiar with Line, not just the busy shoppers buying into the mania this winter morning.
Visit a restaurant and a small placard at the cashier invites you to follow the business on Line in return for discounts. Visit an electronics store and you’ll find them in plush form, as prizes in a coin-operated crane game. But it has held off until it can prove that it can be as relevant everywhere as it is in Japan. The question now is simply how far this strange mix of Disney-meets-Skype-meets-Facebook can go.
This new store, called Line Friends, is different, to put it mildly.
For one thing, it’s not owned by a retailer but by a social media company called Line, which in less than four years has become Japan’s hottest phenomenon by offering an app that provides free messaging and video and phone calls.
As part of the spinoff, Joey Levin, the CEO of its search business, has been named CEO of IAC and will join its board.
Greg Blatt stays chairman of the Match Group with Sam Yagan as CEO.
The Match Group’s revenue is rising faster than any of Diller’s other businesses, gaining 11 percent last year to 7 million.